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GBP/USD holds on above 1.6000

FXStreet (Edinburgh) - The sterling is struggling to keep the trade above the psychological mark at 1.6000 on Wednesday, with GBP/USD now hovering over 1.6010/15.

GBP/USD depressed by FOMC

The more hawkish-than-expected statement by the FOMC triggered a sharp sell off in the risk-associated universe, hurting the pound (amongst others) and dragging the pair to visit last Friday’s troughs near 1.6000 the figure. Moving forwards to tomorrow’s docket, housing prices gauged by Nationwide are only due in the UK while the US GDP Annualized during the third quarter and Yellen speech afterwards will rule the price action.

GBP/USD levels to watch

As of writing, the pair is losing 0.68% at 1.6020 facing the next support at 1.6000 (psychological level). On the other hand, a surpass of 1.6182 (high Oct.28) would open the door to 1.6186 (high Oct.21).

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